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My wife thinks I’ve lost it.
She keeps telling me I’m obsessed. And you know what? She’s right.
But here’s the thing — I’m obsessed with the right stuff.
My grandson is 2 months old, and I’m already making moves to set him up financially. Not because I want to spoil him. Not because I want to hand him a pile of cash he’ll blow through by age 22.
Because I had it so bad — I was so broke I couldn’t even pay attention.
And I don’t want him — or any kid — to go through what I went through.
So here’s what I’m doing… And here’s what I think every parent and grandparent should do, even if you have to borrow the money to make it happen.
The $1K Move That Changes Everything
Put $1,000 into an investment account for your kid the day they’re born.
That’s it. That’s the move.
Even if you have to borrow the thousand to fund the account, do it. Because the one thing that baby has — the only real asset they’ve got — is time.
You give a kid a thousand bucks now, put it in something like Broadcom (AVGO) and a couple other solid stocks, and imagine what that looks like when they’re 25. That $1,000 turns into a million.
But more importantly, it can turn into financial freedom at the exact moment in life when most people are drowning.
That’s the age range I’m obsessed with. Between 25 and 35, life gets expensive fast — college, car, house, baby. That’s when the financial pressure is the worst. And that’s exactly when this account becomes a lifeline.
But here’s the key: You don’t even have to use it. Teach the kid to collateralize it for a loan if they need to. Just don’t give it up. Don’t ever sell it. Just have it, and learn to have it.
And don’t just drop the grand and walk away. Add to it every month — $5, $10, $50, $100, whatever you can swing. Let it compound. Let time do the heavy lifting.
Teach Them Early So It Sticks
One of the guys in my chat made a brilliant point the other day: If you teach kids to put money in early, it becomes second nature by the time they’re in their 20s. And that habit — that muscle memory — is worth more than anything you can hand them later.
You don’t want to surprise a 20-year-old with a pile of money. They’ll blow it. But if they grow up knowing the account is there, watching it grow, understanding what it’s for — it changes how they think about money forever.
You can set this up in a UGMA account in most states for tax benefits, though not every state allows them. Even if you can’t get the tax deduction, who cares? You’re not doing this to save $37 or $300 on your taxes.
You’re doing it because it’s the right move for the kid.
Look, I go over my sons’ finances with them whether they want me to or not. One of them is in Williamsburg paying $6,500 a month for a crappy apartment, and I tell him straight up — you’re making too much to be this careless with it.
Put it away. Build the account. Make it automatic. Because no matter how much you make, if you don’t have the discipline to save and invest, you’re always one paycheck away from broke.
That early investment, that early habit, and that early discipline are what change everything. It’s not the thousand bucks — it’s what that thousand bucks teaches.
So if you’ve got a kid, a grandkid, a niece, a nephew — whoever — open the account. Fund it. Add to it. And teach them early what it’s for.
It’s the best thousand bucks you’ll ever spend.
Trade well,
Jack Carter
Jack Carter Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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